Flexible Display Market is estimated to Expand at a CAGR of 33.1% during the Forecast Period, Observes TMR Study
Monday, July 4, 2022
Growing use of flexible displays in the consumer electronics industry for smartphones, wearable devices, laptops, and its peripherals is expected to boost the category.
Rise in middle-class income and consumers adopting smart gadgets in automobiles to boost pleasure and safety are significant reasons likely to drive the global market in the near future
ALBANY, N.Y., June 27, 2022 /PRNewswire/ -- The value of the global flexible display market stood at US$ 14.9 Bn in 2021. The market is likely to expand at a CAGR of 33.1% during the forecast period, from 2022 to 2031. The global flexible display market is predicted to surpass the valuation of US$ 242.6 Bn by 2031. Flexible displays include characteristics such as plastic-like thinness, lightweight, and durability, as well as the flexibility to be curved accurately and utilized in a variety of smart devices. Flexible display manufacturers & suppliers are also concentrating on modern electronics breakthroughs such as miniaturization, organic electronics, and improved materials. In order to diversify their income sources, they can take advantage of incremental opportunities in flexible display technologies.
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Due to their expanding use in flexible displays, wearable electronics, smart cards, and various other applications, flexible batteries are growing in popularity. A flexible display is also a rapidly growing technology, with applications of flexible display in areas such as media, aircraft, and transportation. Research on flexible display predicts increasing usage of this display technology in medical display systems.
The surge in demand for flexible display technology for a variety of applications such as digital signage, smartphones and tablets, and smart wearable devices is likely to drive the global flexible display market. The growing prominence of quantum dot (QD) display technology presents manufacturers with new revenue prospects and is likely to emerge as one of the important types of display technology.
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Key Findings of Market Report
-- Over the next few years, the market is expected to be driven by the
increasing use of flexible displays in different industries such as
consumer electronics, automotive and transportation, media and
entertainment, and aviation and military. The future of phone design
with flexible display holds promise in the development of mobile devices
and smart displays is also expected to propel the flexible display
market during the forecast timeline. In addition to that, the global
market has been propelled by increasing expenditures on the development
of sophisticated displays.
-- Due to the surge in usage for curved displays from the consumer
electronics sector for the manufacturing of TVs and smartphones, the
curved display category is likely to hold a significant proportion of
the market during the forecast timeframe. A flexible display is
basically the same as any other display, except that it is built on a
flexible substrate.
-- OLED is a rapidly growing category of the global flexible electronics
market in terms of technology. Due to the glass layer utilized in
display manufacture, smartphone screens are traditionally inflexible.
However, the newest OLED-based technology has eliminated the requirement
for it, substituting a thin film of flexible glass with a thin layer of
OLED-based technology. The OLED display, which is constructed of organic
components that generate light when power is transmitted between them,
is now prominent due to its versatility.
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Global Flexible Display Market: Growth Drivers
-- Automakers are concentrating on integrating flexible screens into car
interiors. Over the next several years, a substantially bigger section
of a car's interior surfaces is likely to become interactive, and the
amount of space given to displays in vehicle interiors is already fast
expanding.
-- Based on value, the Asia Pacific region held 34% of the global flexible
display market in 2021. The high usage of flexible displays in consumer
electronics, which represented a substantial chunk of overall
consumption in Asia Pacific, was largely responsible for the
considerable share. In Asia Pacific, China accounted for a sizable
portion of the flexible display business.
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Global Flexible Display Market: Key Players
Some of the key market players are
-- Microchip Technology Inc.
-- Koninklijke Philips N.V.
-- Sony Corporation
-- Sharp Corporation
-- Japan Display Inc.
-- Delta Electronics, Inc.
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Global Flexible Display Market: Segmentation
Type
-- Curved Display
-- Bendable and Foldable Display
-- Rollable Display
Technology
-- OLED
-- EPD
-- LCD
-- Others
Application
-- Smartphone
-- Computer and Peripherals
-- Wearable Devices
-- Television
-- In Vehicle Display
-- Digital Signage
Industry
-- Automotive and Transportation
-- Aerospace and Defense
-- Media and Entertainment
-- Consumer Electronics
-- IT and Telecommunication
-- Sports and Fashion
Browse Latest Electronics & Semiconductors Market Research Reports by TMR:
Fine Pixel Pitch LED Displays Market- Fine Pixel Pitch LED Displays Market is expected to reach value of US$ 7.5 Bn by the end of 2031, expand at a CAGR of 17.4% from 2022 to 2031.
POP Display Market- POP Display Market is expected to surpass the value of US$ 979.2 Mn by the end of 2031, It is estimated to expand at a CAGR of 5.4% from 2022 to 2031
Touch Screen Display Market- Touch Screen Display Market is anticipated to reach US$ 121.1 Bn by 2027
Display Driver IC Market- Display Driver IC Market is anticipated to expand at a CAGR of 8.0% during the forecast period and reach value of US$ 6,842.2 Mn by 2027
Industrial Touchscreen Display Market- Industrial Touchscreen Display Market is anticipated to reach value of US$ 1,462.5 Mn by 2026, expanding at a significant growth rate of 6.5%.
Quantum Dot (QD) Display Market- Quantum Dot (QD) Display Market was valued at around US$ 1,176.2 Mn in 2017and is anticipated to register a stable CAGR of over 23%
Flexible OLED Display Market- Flexible OLED Display Market is projected to witness an exponential CAGR of 35% from 2017 to 2026
Head Mounted Display Market - The global Head Mounted Display market is expected to reach US$ 46,530.7 Mn by 2027 from US$ 9,275.4 Mn in 2019
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